Global Smoke Detectors Market 2016-2020
About Smoke Detector
A smoke detector can detect a fire breakout and prevent it from spreading by enabling security measures. Smoke detectors are connected to alarm systems, which emit a high-pitched alarm tone to warn residents of potential danger, thus, preventing accidents. The requirements of smoke detectors vary on the types of residences. Few residences might require battery-powered detectors, whereas, others might need interconnected hard-wired detectors.
Technavio’s analysts forecast the global smoke detectors market to grow at a CAGR of 8.45% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global smoke detectors market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of smoke detectors.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smoke Detectors Market 2016-2020
Technavio recognizes the following companies as the key players in the global smoke detectors market: BRK, Honeywell, Kidde, Siemens, and Tyco.
Other Prominent Vendors in the market are: System Sensors, USI Electric/Universal, Mircom, Hochiki America, Apollo Fire Detectors, Xtralis, and Gentek.
Commenting on the report, an analyst from Technavio’s team said: “Retrofitting of existing smoke detectors will be a key trend for market growth. The retrofitting of advanced systems in existing smoke detection devices will enable users to upgrade smoke detectors in a cost-effective way. The cost of replacement of existing traditional smoke detectors with smart detectors is one of the major constraints for the global user. Several vendors are developing retrofitting solutions. One of the prominent examples is developed by Roost in the form of Wi-Fi-connected 9 V battery that can be used with the existing detectors to make them smart. The cost of retrofitting existing detectors can be as low as one-third of the cost of replacement.”
According to the report, rising initiatives and support from government bodies will be a key driver for market growth. The governments of most developed countries provide support for installing smoke detectors in residences, be it monetary or through initiatives. These initiatives not only help increase awareness about the importance of these devices in case of fire, but also improve the sales of smoke detectors, which has a positive impact on the market growth. One such example of government support is the grant worth $110,000 provided by the US federal government to the Berrien Springs’ Oronoko Township Fire Department to raise awareness about smoke detectors. Such measures will aid in the growth of the market over the next five years.
Further, the report states that increase in price wars among existing vendors will be a challenge for the market. The increase in price wars among vendors is one of the major challenges in the global smoke detectors market in the US. Some of the existing major vendors are enjoying a good market share, but the market growth for smoke detectors has attracted new vendors into the market. Several vendors are trying to provide products at low prices in order to gain market share. However, this will lead to vendors suffering from reduced profit margins in the long run. Major players like Nest, owned by Google, are relaunching their products at low prices. Nest Protect was relaunched in the US in 2014 with a price tag of $99, a significant decrease from the previous price of $130.
BRK, Honeywell, Kidde, Siemens, Tyco, System Sensors, USI Electric/Universal, Mircom, Hochiki America, Apollo Fire Detectors, Xtralis, Gentek.
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